Aeroengine Fan Blades Market Size 2020 Global Business Prospects, Growth Leading Players Analysis, Qualitative Analysis, Types, Dynamics and Forecast to 2027

Pune, INDIA, JUNE, 23, 2022 /MarketWatch/– According to the new research report titled “Aeroengine Fan Blade Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the global aeroengine fan blade market is expected to reach US$ 9.58 billion by 2027, registering a CAGR of 5.3% during 2020–2027, the forecast period considered in the report.

The scope of study involves understanding the factors contributing to the growth of the aeroengine fan blade market; it also includes estimating and forecasting the revenues as well as conducting the market size analysis, along with spotting significant Aeroengine Fan Blade Market players and their key developments.

The global aircraft engine manufacturing industry is experiencing a substantial growth due to increasing demand of passenger, freight, and military aircrafts worldwide. The rising disposable incomes, growing population, and increasing trend of e-commerce are some of the major factors that are driving the demand for various types of aircrafts. The growing demand for air travel across geographies is leading to increased production of aircrafts from manufacturers such as Airbus and Boeing. addition to this, the rising investments in defense equipment across countries owing to uncertain geo-political conditions are anticipated to drive the demand for military aircrafts during the forecast period of 2020 to 2027.

Sample PDF showcases the content structure and the nature of the information included in the Aeroengine Fan Blades Market report which presents a qualitative and quantitative analysis –

The positive demand for aircrafts is anticipated to fuel the demand for aeroengine fan blades market and offer future growth opportunities to market players operating in the global aeroengine fan blades market., especially in developing regions such as Asia Pacific.

Some of the prominent global aeroengine fan blades market players include: CFM International, GE Aviation, Pratt & Whitney, Rolls-Royce Holdings plc, Safran S.A, GKN Aerospace, IHI Corporation, C-FAN, Chaheng Precision Co. Ltd., MTU Aero Engines AG, among others having a considerable customer base and strong market positioning.

The report segments the global aeroengine fan blades market as follows:

Aeroengine Fan Blades Market is segmented into Engine Type and Material Type. Based on Engine Type, Aeroengine Fan Blades Market is segmented into Turbofan Aeroengine, Turboprop Aeroengine, Turbojet Aeroengine. Based on Material Type, Aeroengine Fan Blades Market is segmented into Titanium Alloys, Aluminum Alloys, Steel, Composites. The aeroengine fan blades market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. The aerospace and defense industry across the world is a strategically important sector.

Impact of COVID-19 Pandemic on Aeroengine Fan Blade Market

The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries. China is the global hub of manufacturing and largest raw material supplier for various industries; moreover, it is one of the worst-hit COVID-19 countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting manufacturing and delivery schedules, and sales of various products and services. China has recently emerged from a 2-month containment phase and moved into the mitigation stage; however, the economy is still declining due to uncertainty around COVID 19 outbreak. Hence, the ongoing disruptions in supply of raw materials and electronic components from China is affecting the manufacturing of aeroengine fan blades, and is thus expected to impact the growth of the global aeroengine fan blades market in coming quarters.

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Europe aeroengine fan blade market to grow at highest CAGR during forecast period

Europe includes various well-established economies such as France, Germany, Russia, the UK, and Italy. The governments of these countries have been instrumental through infrastructural development of the aerospace industry in the region. These countries are developed economies and technologically advanced with a robust aerospace manufacturing sector. The high GDP of the countries are translated into higher individual incomes, thereby encouraging higher standards of living. Similar to the North American dynamics, air travel provides the most preferred means of transportation across Europe for domestic and international travel. The strong inclination toward air travel has resulted in significant growth in the air passenger traffic across the region. Thus, the demand for commercial aircraft, jets, and business aircraft has escalated remarkably over the years in the European countries.

Airbus SE, Dassault Aviation SA, Pilatus, and Lockheed Martin are among the several aerospace manufacturers present in Europe, offering enormous opportunity for the aerospace component manufacturers to grow. Airbus is among world’s leading commercial aircraft manufacturers, which has its headquarters in France with 12 manufacturing bases in different cities in Europe. In 2019, Airbus delivered ~863 commercial aircraft to its 99 customers in the world. The company had 1,131 new orders for the year, which account for the net orders reaching ~768, compared with 747 in 2018. Similarly, the European Union’s initiative toward the autonomy of the defense manufacturing, as well as the presence of robust aerospace manufacturing sector in Europe, is anticipated to boost the growth of the aeroengine fan blades market in the region.

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Aeroengine Fan Blade Market Key findings of study:

The increasing population and rising disposable income levels, especially in developing regions of the world, have led to the elevated demand for air travel. The favorable government policies to attract increased investments in transport infrastructure development are further boosting the growth of aviation industry in APAC, MEA, and SAM. With this, the demand of low-cost travel is increasing at an impressive pace in various regions. Hence, the demand for low-cost carriers (LCCs) and ultralow-cost carriers (ULCCs) is rising globally. The Aeroengine Fan Blade Market liberalization in the aviation industry is another factor that is driving the demand for LCCs and ULCCs. There has been a significant rise in the deployment of these two models in the Association of Southeast Asian Nations (ASEAN) countries. The competition in global aviation industry is also growing at an unprecedented pace due to entry of new players, resulting in reduced fares, which is further driving the growth of air travel. Moreover, in addition developed regions such as North America and Europe, LCCs hold for 30% and 40% of seat capacity, respectively, in short-haul segment. In some South Asian Countries, LCCs contribute to >60% of overall seat capacity. The success of LCC/ULCC models in various countries is driving airlines to invest in small and medium aircraft for short distance and regional travels. Hence, this increasing demand of LCCs and ULCCs commercial aircraft offer ample future growth opportunities to aeroengine fan blade market players.

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